🚨 SCAM ALERT 🚨
A project is currently impersonating us on @baseapp.
DO NOT BUY.
@Pocket_Dragons_ HAS NOT LAUNCHED.
I would love for someone on Base to remove this as I really hate this side of crypto.
Please report any fake accounts, tokens, or links claiming otherwise.
Stay safe and spread the word. ⚠️
While “AI rotation” drains crypto, Abstract shipped an AI agent across 3 chains
Here’s the irony of the AI rotation story.
While capital leaves crypto to chase AI, Abstract just shipped PenguBot, an AI agent running across Solana, Ethereum and its own L2.
Not competing with AI for dollars. Building with it.
That’s the consumer-rail thesis shipping mid-drawdown.
Signs of HOPIUM.
🚨 Is Bitcoin Following The Same Script Again?
Every cycle brings a new narrative.
A new reason why Bitcoin is finished.
A new reason why the market will never recover.
And somehow...
The same debate keeps returning.
2013.
2014.
2015.
Different headlines.
Different prices.
Different economic conditions.
Yet the cycle structure looks surprisingly familiar.
Bull Market → Bear Market → Fear → Recovery → New Highs.
The chart suggests that Bitcoin may once again be approaching a point where sentiment is far worse than price itself.
But here's the real question:
What if this cycle is actually different?
What if the market is preparing for another major expansion...
Or what if investors are underestimating how deep this correction could still become?
I'm interested in thoughtful opinions, not one-word answers.
👇 If you had to choose today:
• Is Bitcoin closer to a major bottom or still far from it?
• What price level would make you bullish again?
• What is the biggest risk most investors are ignoring right now?
Apple WWDC tomorrow tests the rotation thesis. $7.9B already flooded SpaceX pre-IPO ETFs
The thesis that explains this whole drawdown gets a live test
Apple’s WWDC. If AI sentiment rips, more institutional dollars chase equities and the IPO wave. 7.9 billion already flooded into SpaceX pre-IPO ETFs.
That’s capital that used to chase a BTC ETF. Watch where the money looks tomorrow.
Second day above $60K, low-volume consolidation, extreme fear. Coiling, not recovering
60k held a second day. Quiet weekend, low volume, extreme fear still pinned at 12.
This isn’t recovery. It’s coiling. A market that’s done panicking but hasn’t found a reason to bid yet.
Down 22 percent on the month. The selling’s paused. The catalyst hasn’t shown.
Watch, don’t chase.
What an amazing event over the weekend in Auckland New Zealand.
Today wrapped up day 2 of the first ever NZCryptoCon made a lot a new and great connection.
This is something that was needed not just for NZ but for the Pacific as it breaks so many barriers.
It was a missed opportunity for NFT communities imho now just imagine an NFT event held in NZ during November.
Warsh’s first FOMC Jun 16-17 lands into a market that just priced out cuts
Setting up next week and beyond:
60k is the line. Hold it and the base builds. Lose it and the high 50s open.
Warsh’s first Fed is the 16th, into a market that just priced cuts back out on the hot jobs print.
Extreme fear, oversold, liquidity chasing AI. The catalyst hunt is on.
If the bear thesis is “BTC competes with AI for liquidity,” Abstract is a different bet
If the whole bear case is Bitcoin competing with AI for the same dollars, here’s why Abstract is a different conversation.
PENGU isn’t a store of value fighting Nvidia for capital. It’s a consumer rail. Games, a Visa card, a 50 million dollar brand.
Down with the tape, sure. But a different bet.
The whole-drawdown reframe: crypto losing a liquidity competition to AI + the SpaceX IPO pull
The drawdown has a cleaner explanation now, and it’s not “crypto is broken.”
Institutional dollars are leaving Bitcoin ETFs and chasing the AI boom and a wave of megacap IPOs. SpaceX is next in line.
Crypto isn’t losing on fundamentals this month. It’s losing a liquidity competition to AI.